State of Alaska Department of Revenue Boosts Position in Marathon Petroleum Corporation (MPC)

State of Alaska Department of Revenue boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 27.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,851 shares of the oil and gas company’s stock after buying an additional 4,280 shares during the period. State of Alaska Department of Revenue’s holdings in Marathon Petroleum Corporation were worth $1,038,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MPC. Guardian Life Insurance Co. of America increased its position in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. boosted its position in shares of Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares during the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 250 shares during the last quarter. Jacobi Capital Management LLC boosted its position in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 shares during the last quarter. Finally, Tarbox Group Inc. boosted its position in shares of Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 36 shares during the last quarter. 79.57% of the stock is owned by institutional investors.

Shares of Marathon Petroleum Corporation (MPC) opened at 55.34 on Monday. The stock has a market cap of $28.71 billion, a PE ratio of 24.40 and a beta of 1.56. The company’s 50-day moving average price is $53.33 and its 200 day moving average price is $51.04. Marathon Petroleum Corporation has a 1-year low of $36.58 and a 1-year high of $55.83.

Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The firm had revenue of $16.39 billion during the quarter, compared to the consensus estimate of $19.03 billion. Marathon Petroleum Corporation had a return on equity of 5.68% and a net margin of 1.80%. Marathon Petroleum Corporation’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. Equities analysts forecast that Marathon Petroleum Corporation will post $2.81 EPS for the current fiscal year.

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Several equities analysts have recently issued reports on MPC shares. Scotiabank set a $54.00 price objective on Marathon Petroleum Corporation and gave the company a “hold” rating in a research note on Monday, March 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $61.00 price objective on shares of Marathon Petroleum Corporation in a research note on Wednesday, April 19th. Credit Suisse Group reiterated a “buy” rating and issued a $64.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $69.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, June 1st. Finally, US Capital Advisors reiterated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Marathon Petroleum Corporation has a consensus rating of “Buy” and an average target price of $58.52.

In related news, insider Thomas M. Kelley sold 25,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP C. Michael Palmer sold 4,568 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $52.04, for a total value of $237,718.72. Following the completion of the transaction, the vice president now directly owns 62,325 shares of the company’s stock, valued at approximately $3,243,393. The disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock valued at $1,808,969 in the last three months. 1.05% of the stock is currently owned by company insiders.

Marathon Petroleum Corporation Company Profile

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

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